BCH/USD are trading at 255.53 and continue to move as part of the growth and formation of the «Triangle» model. Bitcoin Cash cryptocurrency capitalization at the time of the publication of the forecast is $4 675 365 384. Moving averages indicate the presence of a short-term bullish trend in Bitcoin Cash. Prices are testing the area between the signal lines, which indicates pressure from the buyers of the asset and the potential continuation of growth from current levels. As part of the cryptocurrency rate forecast for June 9, 2020, one should expect an attempt to develop an asset value correction and a test of the support level near the 245.95 area. Where again we should expect a rebound and continued growth of the digital asset Bitcoin Cash with a potential target above the level of 295.05.
Bitcoin Cash Forecast and Analysis BCH/USD June 9, 2020
An additional signal in favor of the growth of quotes of the digital asset BCH/USD is the test of the trend line on the relative strength index (RSI). The second signal in favor of raising BCH/USD quotes will be a rebound from the lower boundary of the «Triangle» model. The cancellation of the growth option for the Bitcoin Cash cryptocurrency rate on June 9, 2020 will be a fall and a breakdown of the area of 235.05. This will indicate a breakdown of the support area and a continued decline in the cryptocurrency rate with a potential target below the area of 205.05. With the breakdown of the resistance area and the closing of quotations above 265.05, we should expect confirmation of the development of an upward trend in Bitcoin Cash.
Bitcoin Cash Forecast and Analysis BCH/USD June 9, 2020 implies an attempt to test the support area near the level of 245.95. Where can we expect a rebound and continued growth of BCH/USD to the area above the level of 295.05. An additional signal in favor of raising the digital asset Bitcoin Cash will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 235.05. This will indicate a continued fall in cryptocurrency with a potential target below the level of 205.05.
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